Mao was right about landlords
That being said these people can afford to pay this, their house is millions of $s.
this post was submitted on 15 May 2025
415 points (90.4% liked)
A Boring Dystopia
12450 readers
485 users here now
Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.
Rules (Subject to Change)
--Be a Decent Human Being
--Posting news articles: include the source name and exact title from article in your post title
--If a picture is just a screenshot of an article, link the article
--If a video's content isn't clear from title, write a short summary so people know what it's about.
--Posts must have something to do with the topic
--Zero tolerance for Racism/Sexism/Ableism/etc.
--No NSFW content
--Abide by the rules of lemmy.world
founded 2 years ago
MODERATORS
If the house you've been living in for ages goes up in value, that doesn't turn into money you can spend.
Unless you're my brother, who spends untold amounts of money renoing various portions of his house, then has it reassessed so he can add to his home equity-based line-of-credit, so he can have more money to do more renos ad infinitum. I mean he's done this a dozen times (or more).
It's a never ending circle of financial death over there.
load more comments
(1 replies)
Eh, I mean it kinda does. They're complaining about having to 91k dollars of tax for nearly 4 million dollars of equity. They could just get a tax free loan guaranteed by their equity and receive millions to live off for the rest of their lives, paying the loan back when they sell.
They just want to have their cake and eat it. They like the free equity, they just don't want to pay the taxes associated with it.
Sure, but it also makes a human need unaffordable for more people every year.
I was living in a neighborhood that gentrified and my rent went up a "life altering" amount. I had to move to a different, shittier neighborhood and had nothing to show for it. If a property owner has the same thing happen, they may be forced to sell, but they will get a massive windfall. Renters get nothing besides a kick in the butt.
No but it does turn it into a financially valuable asset which they can sell for a profit. Emotionally I feel for them, I wouldn't want to sell a house I've investment time and energy into. But they're FAR better off than a lot of people on a purely financial basis.
It's the same reason Elon is a multi-billionaire, even though he doesn't have that as "spending money"
“We do have the law to comply with,” Schwartzreich says. “It really puts us in the middle.”
🤣🤣🤣